ScS announced a bump in sales today ahead of its annual general meeting (AGM), but cautioned that its performance in House of Fraser concessions had been knocked.
In its AGM statement, ScS said like-for-like order intake for the group rose 2.9 per cent for the 16 weeks ended 18 November. Two-year like-for-like orders were up by eight per cent.
However, orders fell by 6.4 per cent across ScS' concessions in House of Fraser, which represent just over six per cent of the group's total order intake. The retailer said the sales performance was being judged against "very strong comparatives".
Why it's interesting
The retail environment has been tough in the lead-up to Christmas, and, with food prices rising, household spending for non-essentials has been squeezed. However, ScS' confident update suggests the group expects to weather the storm, with the most important period of consumer spending on the horizon.
Retail sales figures from the Office for National Statistics have suggested it will be a tough Christmas for retailers, so it remains to be seen how the likes of ScS and the House of Fraser fare over the festive period.
What ScS said
ScS chairman Alan Smith said: "Whilst it is still early in the current financial year, the group continues to trade in line with our expectations. We believe the group's increasing resilience and value proposition will enable us to manage the continued economic uncertainty and take advantage of opportunities."